FTII Investee ParaSun Sold to Uniserve
May 29, 2007
We are pleased to report, that our first investee company, Parasun Technologies Inc was successfully sold to Uniserve.
This is the first exit transaction in our portfolio.
FTII purchased shares of ParaSun on June 30, 2005 at $0.55 per share.
Basil Peters had been the Chairman of Parasun since April 2004. Basil and fellow director, David Raffa, were engaged by Paraun in 2004 to design and execute the exit transaction.
The transaction was structured so the acquisitor would purchase the company with a pre-agreed upon amount of working capital.
The estimated total purchase price is in the range of $1.25 per share - a gain of over 125% on our investment in about two years.
We hope all of our investors are as pleased as we are with this first successful exit in FTII.